ODR Replacement Bonds
Partnership agreements dictate the GP must fund an Operating Deficit Reserve account. This practice ties up cash availabilities for the developer and could eventually hinder efforts to build more affordable housing. As an alternative, CIG has initiated an ODR Replacement bond that alleviates the need to fund an account. The bond is written on AM Best rated “A+” surety paper and is popular among CIG’s developer clients.
For your bond, fill out this form here for quick reply.
Contact LIHTC practice leader Matthew Clarke
Or email or call (843) 212-5254 to speak to a CIG Bonds Professional.
